Have to confess I got burnt in LITB last night.Obviously the company doesn't grow as fast as the market was pricing it. Which raises a question about the numbers they showed before the IPO. Were they real or only made to impress investors in IPO.
I believed these growth figures they reported before IPO 12Q1 74%, 12Q2 82%, 12Q3 96%, 12Q4 99%. You don't have to be a genius to see that each quarter the growth was accelerating.
And then they reported yesterday 53%. The highest price is $15 at these rates. Wall Street will not pay more. The old long term price trend can be thrown out of the window.
Could be a good bounce play today. But don't hold it for too long.